Coinbase and Others Spend Over $4 Million on Lobbying in Q3, Down from Previous Quarter

Coinbase and several major cryptocurrency organizations reported a decline in federal lobbying expenditures in the third quarter compared to the second quarter, with total spending exceeding $4 million, maintaining this level for six consecutive quarters. The decrease in lobbying spending is related to the setback of the CLARITY Act in the U.S. Senate, which aimed to establish a regulatory framework for the digital asset market. Disagreements within the industry regarding stablecoin yield businesses, pressure from traditional banking groups, and controversies surrounding ethical clauses related to political figures' interests in crypto assets are seen as factors contributing to the bill's failure. In the first half of 2026, the cryptocurrency industry has already invested over $8 million to promote market structure legislation, with Coinbase spending approximately $2.2 million, Kraken investing nearly $1 million, and some lobbying firms terminating their partnerships with cryptocurrency industry clients in the third quarter.

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